Six-Unit Apartment
714 1ST, Seattle, WA 98109
For Sale
$1,900,000
Recently renovated residences include on-site parking, a separate laundry room, and individual water meters.
Property Size6,090 SF
Price / SF$311.99
Days on Market23
Property Features for 714 1ST
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Units
Unit Mix
Multifamily Units
Individually Metered Utilities
Amenities
paid laundry room
Building Details
Year Built
Listing Agency:
Windermere Real Estate Co.
Listed By:
Leah Hill
(206) 852-7634
Source:
Skylineproperties
Added: Oct 17
Changed: Nov 7
Last Checked: Nov 8 at 6:22AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Windermere Real Estate Co.
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Built in 1906, this Seattle apartment property contains six renovated units: four with two bedrooms and one bathroom, plus two with one bedroom and one bathroom. A separate laundry room and individual water meters serve the building.
The property is at 714 1ST in Seattle’s Lower Queen Anne area. A seven-car parking lot is included.
The property is at 714 1ST in Seattle’s Lower Queen Anne area. A seven-car parking lot is included.
Key Highlights
- Six apartments: four two‑bedroom/one‑bath units and two one‑bedroom/one‑bath units
- All six units have been renovated
- Seven‑car parking lot
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$102,786
Cap Rate
5.41%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,055,720
$2.1M
Cap Rate 7%
$1,468,371
$1.5M
Cap Rate 9%
$1,142,067
$1.1M
Market Conditions
NOI Build-Up for 6,090 SF
Gross rent
$193.7K $31.80/SF
− Vacancy
−$6.8K −$1.11/SF
EGI
$186.9K $30.69/SF
− OpEx
−$84.1K −$13.81/SF
NOI
$102.8K $16.88/SF
Area
Seattle, WA
Vacancy
3.50%
Lease Rate
$31.80 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,055,720
Cap Rate 7%
$1,468,371
Cap Rate 9%
$1,142,067
Alternative Uses
Best Use
Apartment 5plus
$1.47M
$1.28M – $1.71M
NOI $102,786 @ 7.0% cap · market cap 5.41%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.83M
$1.60M – $2.14M
NOI $128,254 @ 7.0% cap · market cap 6.75%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
1,478
Businesses Nearby
Explore this area
Business Placement
Demographics for 98109, WA
34,551
Population
23,162
Households
1.5
Avg Household Size
32
Median Age
78%
College-Educated
98%
High-School Grad
1.9 sq mi
ZIP Area
18,185
Density / Sq Mi
$130,845
Median Household Income
$104,202
Median Earnings
$2,329
Median Rent
$986,000
Median Home Value
Market
Average Price Trend$/SF for Apartment buildings in Seattle, WA
Properties on Market for Apartment buildings in Seattle
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - Recently renovated residences include on-site parking, a separate laundry room, and individual water meters.
Where is this apartment building located?
The property is located at 714 1ST Seattle, WA.
What is the asking price?
The asking price for this property is $1,900,000.
What are key features of this property?
This property features: Six apartments: four two‑bedroom/one‑bath units and two one‑bedroom/one‑bath units; All six units have been renovated; Seven‑car parking lot
